Post # 1
I just made (what I hope will be) my second to last payment on my student loans! Woo hoo! It’s going to feel so good to make that final payment and not have to worry about how much of my paycheck will go toward my loans. What did you do to celebrate paying off your student loans? What did you start putting your extra money towards every month?
Post # 3
@redheadem: 401k…max it out.
Post # 4
lol I’ll let you know how I celebrate when I pay them off… in 2028. Oy.
Post # 5
congrats!!!!! that must feel awesome! since you are used to that amount coming out, put it in savings! maybe some for retirement, and some for future plans? once you are used to it coming out you might as well keep it going! (but for things more exciting than debt!)
Post # 6
@CorgiTales: LOL same. I graduated in 2008 with a great degree and an equally great amount of student loans. I am only now paying more than the minimum payment. I don’t even look at the statements, because they just make me ill.
Congrats though!! That is a huge accomplishment, I would celebrate with something great!
Post # 7
Ah I can’t wait to finish paying off my student loans! I think I only have a year or two (maximum) left before I’m all paid off! I think that’s pretty good considering I graduated at 21 and I’m only 23 now!
For the first six months, I paid $1,000 per month toward my loan (since I wasn’t paying rent at the time) and after that I lowered it to $500 per month. After I’m done paying it off, the money will go toward a house or savings for future children (and their college funds!)
Post # 8
- Wedding: June 2011 - Spring Grove Park & St. George Banquet Center
Congratulations! I wish I could say the same for Darling Husband and I, but alas… it will be a loooong time before that happens.
I agree with @Soladylike:, max out that 401k!
Post # 9
@redheadem:Woohoo! Good for you! I agree with @Soladylike:, start paying your future-self 🙂
Did you pay them off min or were you pumping extra into them? I graduate soon, and people think I’m crazy to want to pay them off early, but 6.8% is not as nice as the 1.6% that my fist student loan had. These things are crazy!
ETA- I LOVE your avatar 🙂
Post # 10
Congratulations! It’s such a good feeling, isn’t it? We’re still going on ours, but it’s b/c we locked in with our rate being so low. We did just pay off my car which is another $300+ per month that is going straight into savings…yay!
Post # 11
WooHoo! Congrats Girl~!
I paid off my undergrad loans a year ago but kept putting the money away in savings for my grad program. I got a few scholarships this time around so I am saving the extra just as before with a hopes to not have to work or go down to part time while doing my thesis.
Post # 12
Congrats! I can’t wait to say that…in 2030. Wow it looks so much worse to write it out.
Post # 13
Well if you don’t mind me asking, how much did you have to pay off and when did you start?
Post # 14
Congrats! I can’t wait for that day to come. I have about $175k in student loans from undergrad + law school (extremely little help from my parents). I just graduated from law school in 2011, and I hope to have everything paid off by 2021. All my federal loans are on 10-year repayment plans, and I refuse to lengthen them. My private loans are on 30-year repayment plans, but I’m trying pay those off in 10 years as well. Ugh… even 10 years seems like so long!
Post # 15
@indibee: THANK YOU! You are the first person to ever reference my avatar. I paid as much as I was comfortable paying after each paycheck (way over the minimum amount though, so I was “pre-paid” pretty far in advance). Sometimes I paid twice per month (with my paychecks) and sometimes I didn’t pay for a few months, like around Christmas time or when going on vacation. At the time, it was scary to see all that money just leaving my bank account, but that way, I paid it off faster and didn’t have to pay very much interest.
@Eva Peron: I had about $11,000 and paid it off in about a year and a half. I guess it’s not that much money, but it still feels good. And when I first heard I would have loans (my parents said I wasn’t going to have any loans… story for another time), I bawled the whole summer! I never thought I’d be able to handle it.
Post # 16
Yay! Congrats! I used my extra $$ to save for a downpayment for a house.